Accelerating expansion in image-guided therapy devices, Philips acquires Spectranetics for $2.1B

June 28, 2017
The acquisition will further expand and strengthen Philips' Image-Guided Therapy Business Group.

Health technology company Royal Philips (Amsterdam, Netherlands) and vascular intervention and lead management solutions technology developer Spectranetics (Colorado Springs, CO) have entered into a definitive merger agreement. The acquisition will further expand and strengthen Philips' Image-Guided Therapy Business Group. Spectranetics is currently growing double digits, and projects 2017 sales to be in the range of $293 million to $306 million.

Spectranetics' portfolio includes a range of laser atherectomy catheters for treating blockages with laser energy in both coronary and peripheral arteries; the AngioSculpt scoring balloon used to mechanically push a blockage aside in both peripheral and coronary arteries; the AngioSculptX drug-coated scoring balloon, and the Stellarex drug-coated balloon, which treats common to complex lesions while inhibiting the recurrence of these blockages.

Upon completion of the transaction, Spectranetics and its 900-plus employees will become part of the Image-Guided Therapy Business Group within Philips. Spectranetics' standalone revenue growth is expected to be double-digit and adjusted earnings before interest, taxes, and amortization (EBITA) to be positive by 2018. Philips sees sustained high sales growth through new product introductions across a highly synergistic therapy device portfolio.

As a result, the combined Spectranetics and Philips Image Guided Therapy Devices business (Philips Volcano), within the Image-Guided Therapy Business Group, is expected to grow to approximately $1.1 billion by 2020.

For more information, please visit www.philips.com/global and www.spectranetics.com.

About the Author

BioOptics World Editors

We edited the content of this article, which was contributed by outside sources, to fit our style and substance requirements. (Editor’s Note: BioOptics World has folded as a brand and is now part of Laser Focus World, effective in 2022.)

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